“Never give in — never, never, never, never, in nothing great or small, large or petty, never give in except to convictions of honor and good sense. Never yield to force; never yield to the apparently overwhelming might of the enemy.” – Winston Churchill
Something for everyone yesterday.
It would seem that above the upper bollinger was too much for the market and it quickly sold off from the very short term target of 2180 at the rising Gann line – previous support / now resistance.
Still room for the market to move higher
I have moved the new T structure back one day as the oscillator low was 2 days prior to the price low and this projects the first major target for monday coincidentally just prior to a scheduled Echo peak high. A similar situation occurred after Brexit when the market tested the averages briefly and then resolved to the upside.
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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational & entertainment purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.